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Category Archives: Free Courses
The Future of Money: Bitcoin, the Gold Standard, and Free Banking
With the rise of Bitcoin and the continuing discussion of the gold standard as solutions to our current monetary woes, the Sound Money Project of the Atlas Network is organizing a reception and panel discussion on alternatives to the current monetary system.
IS Bitcoin money? Bitcoin-CMRE
Penn Club of New York
30 W 44th Street
New York, NY 10036
Tuesday, June 3, 2014
from 6:00 PM to 8:00 PM (EDT)
Daniel Oliver, Committee for Monetary Research & Education
Lawrence H. White, George Mason University
A representative from the Bitcoin Embassy, Canada
Moderator: Gonzalo Schwarz (Atlas Network)
Heavy hors d’oeuvres and drinks will be served. The first 50 attendees to arrive will receive a copy of Notes on the Establishment of a Money Unit by Thomas Jefferson and with a forward by Atlas Senior Fellow Judy Shelton.
For more information contact Brittany Cobb at Brittany.Cobb@AtlasNetwork.org or (973) 826-2003.
Dan Oliver graduated from Columbia Law School with honors in 2001 and practiced law at Simpson Thacher & Bartlett. He left Simpson Thacher to obtain an MBA from INSEAD in 2005. After co-founding two venture compnaies, Mr. Oliver joined Bearing Capital, LLC, a private equity firm in Buenos Aires focused on Latin American commodities investments. Mr. Oliver founded Myrmikan Capital in 2009, an investment firm specializing in micro- capitalized gold mining companies. Mr. Oliver is currently a Director of the Committee for Monetary Research & Education and a National Review Institute Fellow.
Lawrence H. White is Professor of Economics at George Mason University. He specializes in the theory and history of banking and money, and is best known for his work on free banking. He received his A.B. from Harvard and his M. A. and Ph.D. from the University of California, Los Angeles. He previously taught at New York University, the University of Georgia, and the University of Missouri – St. Louis.
In 2008 White received the Distinguished Scholar Award of the Association for Private Enterprise Education. He has been Visiting Professor at Queen’s University Belfast, Visiting Fellow at the Australian National University, Visiting Research Fellow and lecturer at the American Institute for Economic Research, visiting lecturer at the Swiss National Bank, and a visiting scholar at the Federal Reserve Bank of Atlanta. He co- edits a book series for Routledge, Foundations of the Market Economy. He is a co-editor of Econ Journal Watch, and hosts bi-monthly podcasts for EJW Audio. He is a member of the board of associate editors of the Review of Austrian Economics and a member of the editorial board of the Cato Journal. He is a contributing editor to the Foundation for Economic Education’s magazine The Freeman and lectures at the Foundation’s annual seminar in Advanced Austrian Economics. He is an adjunct scholar of the Cato Institute and a member of the Academic Advisory Council of the Institute of Economic Affairs.
Gonzalo Schwarz (moderator) manages the Awards and Grants program at the Atlas Network that include the prestigious Fisher Memorial Award and Templeton Freedom Awards. Additionally he manages the Latin American Program. He currently holds an MA in Economics from George Mason University and is looking to pursue other graduate studies. He is originally from Uruguay and has lived in four other countries throughout his life. In the past he worked in academics and other non profits. He enjoys participating in academic seminars and was also part of the Koch Foundation Fall internship in 2009. His main hobbies are sports, reading and spending time with his family.
Have questions about The Future of Money: Bitcoin, the Gold Standard, and Free Banking? Contact Atlas Network
Education is the ability to listen to almost anything without losing your temper or your self-confidence. –Robert Frost
My idea of education is to unsettle the minds of the young and inflame their intellects. –Robert M. Hitchins
My own education operated by a succession of eye-openers each invovling the repudiation of some previously held belief. –George Bernard Shaw
Every act of conscious learning requires the willingness to suffer an injury to one’s self-esteem. That is why young children, before they are aware of their own self-importance, learn so easily; and why older persons, especially if vain or important, cannot learn at all. –Thomas Szasz (www.gloomboomdoom.com)
A Young Reader’s Question
How do I become a great investor?
CSInvesting: Well, it might be too late for you. I started at age eight, and I struggle to keep the pace. However, if you still wish to learn, read widely and experience life. Start a small business. Sell T-shirts or think of a fun business where you can sell products to your classmates.
My grandfather’s advice: “John, that’s your name right?” http://youtu.be/AloNERbBXcc
Buffett’s lecture to Indian business students (MUST SEE): http://youtu.be/4xinbuOPt7c (Value the business BEFORE you see the price.)
A Course in Charlie Munger’s Worldly Wisdom
The journey towards worldly wisdom travels through two equally important territories. Firstly, learning significant concepts from the different disciplines (“the big ideas”). Secondly, learning to recognize patterns of similarities among them.
Course Outline for Worldly Wisdom
Track down more lectures: http://www.safalniveshak.com/fundoo-professor-called-sanjay-bakshi/
HAVE A GREAT WEEKEND!
Free Book: Gold, the Monetary Polaris by Nathan Lewis
I highly recommend this book to understand our current mess and how we can go back to stable money and a prosperous world for all. Before dismissing the idea of a gold standard with thoughts of–there is not enough gold; we tried that before and why gold, we now have Bitcoin–learn first how a gold standard works and then financial and monetary history. Your study will pay huge dividends. Lewis debunks the myth that you need 100% gold-backing for paper money. (See Rothbard’s book, Case for a 100 Percent Gold Dollar)
For a great romp through financial history and the role that gold played: Gold as money Lewis Another great book.
Lewis writes on page 5, “A gold standard system has a specific purpose: to achieve, as closely as is possible in an imperfect world, the Classical ideal of a currency that is stable in value, neutral, free of government manipulation, precise in its definition, and which can serve as a universal standard of value, in much the manner in which kilograms or meters serve as standards of weights and measures.”
The author shows how and why the Classical principle of stable, gold-based money once made Americans wealthy. Why not now?
Stable money along with clear property rights/rule of law and low taxation/regulatory burdens have provided the means for the greatest human prosperity.
View Nathan Lewis’ articles here: www.newworldeconomics.com
Video Lecture published on Feb 18, 2014: Http://Www.Cato.Org/Events/Gold-Monet…
In this sequel to Gold: the Once and Future Money, Nathan Lewis describes the theoretical basis of gold-standard monetary systems. Lewis argues that the pre-1913 world gold standard system was perhaps the most successful monetary system the world has ever seen, enabling high levels of economic growth. Descriptions of both Britain’s economic rise under the gold standard and the United States’ rise to economic prominence under gold are also discussed.
We first have to understand the product/market of our gold company. Gold companies produce gold and silver which is money. What is money? Precious metals have exchange value which makes up a large part of their value. You first have to understand the gold market. Note: why did gold go down LESS than other commodities such as oil in the 2008/2009 credit crisis?
You need to draw up an industry map. How? Find out who the participants are.
Start with history: http://www.fgmr.com/gold-mining-stocks-have-outperformed-the-djia.html
QUIZ: What is the best environment to invest in Gold mining equities. Why?
We will circle back to an industry map after you have read about the industry.
What determines the price of gold: http://www.acting-man.com/?p=10251 Also, do a search for gold and/or mining stocks and then read his posts.
Gold as collateral: http://www.alhambrapartners.com/2014/02/26/gold-and-reverse-repos/ Also, do a search for gold.
Read free research on gold as money: http://www.myrmikan.com/port/
View all five videos on money: http://hiddensecretsofmoney.com/
Two excellent books: Gold, the Once and Future Money by Nathan Lewis. Also, Gold: The Monetary Polaris by Nathan Lewis.
Gold and inflation: http://www.garynorth.com/public/department32.cfm
Understand royalty companies: http://seekingalpha.com/article/1341411-gold-and-silver-royalty-companies-part-1-the-pros-and-cons-of-royalty-companies (read all five parts)
Then read presentations of Royal Gold, Silver Wheaton, Franco-Nevada, Sandstrom from their websites for a good overview of the gold mining market(s).
These sites can get you started. Don’t believe the hype!
- Listen to past interviews at www.bullmarketthinking.com
Go to www.youtube.com and search for Jim Grant AND gold, John Doody and mining stocks. Ditto for Brent Cook, Rick Rule. Search for their comments.
That will get you started and then next week, I will post an industry map. Ask questions. In two weeks we will crack a company.
Update March 17, 2014: Discussion of Junior Resource Sector
The free webinar, “SEC Filings Master Class,” took place Nov. 13-15, 2012.
Michelle Leder, who makes her living unearthing news in SEC filings, will help you feel more confident in your SEC-document sleuthing. In three one-hour sessions, you’ll enhance your ability to spot red flags in SEC filings.
WHAT YOU WILL LEARN
- At least four things to look for in Form 10Ks that can result in good stories
- At least four things to look for in proxies that can result in good stories
- At least four things to look for in Form 10Qs that can result in good stories
For each of the documents below, Leder will point out at least four key things to watch for that can produce good stories. She’ll offer examples of stories that have been done, point out where to find these types of stories in the fine print of the SEC document and offer attendees a chance to practice finding the news themselves.
- Hour One: Form 10-K, or the annual summary of the company’s performance, is filed within 60 days of the end of its fiscal year.
- Hour Two: Proxy, or Schedule 14A, provides information to shareholders before the annual meeting. It includes executives’ compensation.
- Hour Three: Form 10-Q, or the quarterly summary of the company’s performance, is filed within 35 days of the end of each of its first three fiscal quarters. This session will also touch on other key filings.
Michelle Leder launched Footnoted.com (originally Footnoted.org) in 2003 to take “a closer look at the things that companies try to bury in their routine SEC filings,” according to the website. Its launch coincided with the release of her book, Financial Fine Print: Uncovering a Company’s True Value. Morningstar bought the site in 2010, but Leder bought it back in 2012.
What do you think?
Check out the resources below. At your own pace, you can walk through the self-guided lesson on tips for digging deeper into SEC filings.
Book Club for Value Investors (Discussion) http://www.moderngraham.com/
Can a Firm Have Too Much Debt
The above papers were written during the LBO craze of the late 1980s which, in turn, was driven by the all-time low in asset values of the early 1980s.
Liquidation and Debt Capacity Worth a read!
Free Course with Yale’s Schiller on Financial Markets and Risk:
A GREAT POST FOR INVESTORS
The immediate & obvious answer, as with most things in life, is ‘What else would I bloody do…?!‘ But I have to admit, I’m an autodidact – always have been, always will be, ever since childhood – which unfortunately made organized education increasingly intolerable** the older I got. However, when it comes to investing, the odds are stacked in my favour – organized education doesn’t offer you a hope in hell of becoming a good, let alone agreat, investor. As people often notice with regard to MBAs… [Again, I can't resist this classic!].